Shanghai‘s annual global IT outsourcing forum opens on Thursday in the latest move by the city to develop its information technology industry.  

The outsourcing business, which boosts software exports and IT industry development, is an important part of Shanghai‘s plan to transform its economic structure to become more service-oriented. IT outsourcing refers to contracting business processes, such as software development, data management and systems maintenance, to third-party contractors.  

"Software outsourcing has become a strategic industry of China with double-digit annual revenue growth," said Zhao Zhifan, director of the Software Offshore Business Union of Shanghai. "Chinese firms have gained more and more influence in the global IT industry."  

The 10th Global IT Outsourcing Forum 2012 runs through Friday at the Longemont Shanghai in Changning District. Its theme is "An Innovation-driven Future and Development through Cooperation." The focus is the development of software technology and information services.  

Topics include policies favoring innovation and financial support, strategies for sustainable development of software professionals, development in the Yangtze River Delta region‘s software industry, and joint development of new-generation information technology.  

In 2011, Shanghai software industry generated 176.6 billion yuan (US$27.9 billion) in revenue, a 21 percent growth compared to the previous year. The IT services industry, comprising mainly of the software sector, accounted for 5.8 percent of Shanghai‘s total GDP, compared with around 5 percent several years ago.

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